507 6Th St Williston, FL 32696
- Distribution centers
- 8,750 SF
- 0.63 lot acres
Current Use by Public Records
- Williston Storage-Climate Controlled / Self-Storage Facility / Records Storage Facility
Property Details for 507 6Th St
- Year built
- 2007
- Construction
- STEEL FRAME
- Lot size
- 0.63 lot acres
- Property size
- 8,750 SF
- Property type
- Distribution centers
- APN
- 504300700
- APU
- 504300700
Description
This exceptional self-storage investment opportunity in Williston, Florida, presents a fully stabilized, climate-controlled facility boasting a 9% cap rate (Year 1). Situated on 1.4 acres encompassing two parcels, the property comprises 13,875 square feet of space, including 8,750 square feet of climate-controlled storage units (95% occupied, with a waiting list) in a single-story building constructed in 2007. Three additional warehouse buildings totaling 5,125 square feet offer versatile space, currently partially leased (2-year lease commencing March 2024), with potential for conversion to additional climate-controlled storage. These buildings feature an office, two bathrooms, electric roll-up bay doors, electric hookups, and air compressors. Buildings 2 and 3 have recently received new metal roofs, and Building 2 has had its exterior metal replaced. The property also includes space for up to 20 boat/RV parking spaces or Boxwell units, with current marketing efforts underway (May 2024). The facility is remotely managed and features keypad entry for customer access. The current economic occupancy is 78%, indicating significant upside potential. The seller is offering attractive owner financing: 50% at 6% interest for 14 years. This presents a compelling opportunity for investors seeking a high-return, low-management self-storage asset in a growing Florida market with proximity to Gainesville and Ocala. The property includes 56 climate-controlled units across seven buildings.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $840,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $885,000
- 6.5%
- $900,000
- 7%
- $995,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $975,000
- Geo Method
- $950,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $920,000
- Retail
- $915,000
- Mixed-Use
- $985,000
- Hospitality
- $980,000
- Educational
- $905,000
- Residential Income
- $1,070,000
- Energy
- $790,000
- Income-Based Land
- $900,000
- Food Service
- $1,020,000
Location Insight
- Map
- Local Demand
- City
- Williston
- County
- Levy
- State
- Florida
- Longitude
- -82.4391
- Latitude
- 29.382
- CBSA code
- 23540
- CBSA name
- GAINESVILLE, FL METROPOLITAN STATISTICAL AREA
